What is MUTX?
MUTX has a use case of being a community building coin. It has projects in countries that support and uplift local communities and by supporting the coin you help fund these projects. They range from solar power energy panels and education to supplying water from the Amazon jungle to children all over the world. From community cleaning projects to sustainable garden and food growth.
All these projects will be reported on, on a regular basis so that you can see where the proceeds are going and what has been achieved. You will meet team members from each project and get to see who has benefited from your support. As masternode holders you can vote to include your project and be listed as a beneficiary of the project. So, if you have a project that is dear to you – you can vote to have it included.
ONE SLOT will be available to a project that wants to be listed at the start of MUTX – you can put any name forward to be selected and the project will be voted for by masternode holders.
These projects have real people attached and real-world problems that we are trying to solve and they are projects that I have worked in and on for some time and they are close to my heart. To protect these people and to best try and sustain a volatile crypto currency market, we have decided to launch our coin with a different approach.(edited)
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Firstly, I would like you to know that we have thought long and hard on the best way forward for our project and have gone through a lot of ideas until we decided on this one.
We have learned some lessons along the way of our Mutual Coin Journey and have applied it in our decision making process.
We tried to fix the supply by burning coins, it grew too fast and didn’t make a difference
We got it listed at our cost and everyone dumped to 1 sat
We tried to swap to a better coin and code and it wasn’t valued and again people just dumped
The presence of whales, financially influential people, in the first swaps made it clear that one person if they own too much can dump and affect the price of an entire project
What we learned is that when one gets something for nothing it has no value, if one is given too much you have no incentive to hold. If one is in a project that you don’t care about, you will also dump because it holds no interest to you.
So, in conclusion, to do as much as possible to protect the future of the coin and your investment, we decided we would do something unique and not seen before in any coin we are aware of.(edited)
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We will not be accepting any Mutual coins in a swap format or in any other way.
The Mutual coin is not tradeable and holds no value.
To go through that process is a waste of time and resources.
We would however like to offer all Mutual holders a place in the project by allowing the first 2000 wallets a set amount of 500 Coins each. These wallets will be part of a compensation plan provided for in the pre-mine. After 3 months if your original coins are still in your address you will receive double those coins (1000) and if you still have those coins after 6 months, we will send double the coins again (2000) as compensation for holding your coins and not dumping, thereby stabilising the network and contributing to its value. You can't stake these values in the time frame specified unless you buy more coins to increase your network weight. Collateral for a masternode will be 10000 coins
At pre-sale only 50 FOUNDER MASTERNODES will be available for sale at 0.75BTC. They will also be linked to a Compensation plan and if you still have your original masternode after 4 months you will receive another masternode free.(edited)
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50 Normal Masternodes will be available at pre-sale for 0.5BTC but they will not be linked to a compensation plan. They will get the benefit of a month’s rewards before listing on an exchange. The coins will be listed on Coinexchange.io, CREX24 and Crypto-Bridge.org after a month should the pre-sale be successful.
Those that wish to sell coins amongst each other may do so in an approved escrow channel in the MUTX Discord.
TO HELP THE INFLATION AND SUPPLY OF THIS COIN - ALL COINS NOT CLAIMED FOR WHATEVER REASON WILL BE BURNED
To ensure that no one cheats and claims more than they are due, and because we are not accepting coins we will be doing a KYC document to verify identity only. The form is for safety and security of your coins and to be able to make sure only you can claim your coins should you lose your original address. It will not be used for any other purpose and will be destroyed after the 6-month compensation period.
The pre-sale will be in the form of an Airdrop, and the 1st 50 addresses that provide payment will receive their Founder nodes. This will take place on 20th August 2018 19:00 CEST.
The normal Nodes will only be sold on 27th August 2018 21:00 CEST to allow the founder nodes time to earn before exchanges